Cumulus Media Inc. (NASDAQ:CMLS) Forecasted to Post Q1 2024 Earnings of ($1.56) Per Share

Cumulus Media Inc. (NASDAQ:CMLS) – Analysts at Noble Financial increased their Q1 2024 EPS estimates for Cumulus Media in a research report issued to clients and investors on Monday, April 22nd. Noble Financial analyst M. Kupinski now forecasts that the company will post earnings per share of ($1.56) for the quarter, up from their prior estimate of ($1.70). Noble Financial has a “Market Perform” rating on the stock. The consensus estimate for Cumulus Media’s current full-year earnings is ($1.80) per share. Noble Financial also issued estimates for Cumulus Media’s Q2 2024 earnings at ($0.50) EPS, Q3 2024 earnings at ($0.16) EPS, Q4 2024 earnings at ($0.07) EPS, FY2024 earnings at ($2.29) EPS and FY2025 earnings at ($2.43) EPS.

Cumulus Media (NASDAQ:CMLS) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($2.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($2.01). Cumulus Media had a negative net margin of 13.96% and a negative return on equity of 17.50%. The firm had revenue of $221.30 million during the quarter, compared to the consensus estimate of $220.07 million.

Separately, Barrington Research cut shares of Cumulus Media from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 28th.

Cumulus Media Stock Performance

Shares of CMLS stock opened at $2.76 on Thursday. The company has a market capitalization of $46.02 million, a price-to-earnings ratio of -0.39 and a beta of 1.49. The company has a debt-to-equity ratio of 3.06, a quick ratio of 2.00 and a current ratio of 2.00. The company has a 50-day simple moving average of $3.42 and a 200 day simple moving average of $4.40. Cumulus Media has a 52 week low of $2.57 and a 52 week high of $6.59.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC raised its holdings in shares of Cumulus Media by 19.8% in the third quarter. Acadian Asset Management LLC now owns 323,076 shares of the company’s stock valued at $1,643,000 after purchasing an additional 53,306 shares during the last quarter. EJF Capital LLC boosted its position in Cumulus Media by 28.5% during the third quarter. EJF Capital LLC now owns 86,768 shares of the company’s stock worth $442,000 after purchasing an additional 19,268 shares during the period. Ancora Advisors LLC boosted its position in Cumulus Media by 18.6% during the third quarter. Ancora Advisors LLC now owns 64,280 shares of the company’s stock worth $327,000 after purchasing an additional 10,080 shares during the period. Exchange Traded Concepts LLC bought a new position in Cumulus Media during the fourth quarter worth about $268,000. Finally, Sigma Planning Corp boosted its position in shares of Cumulus Media by 8.2% in the third quarter. Sigma Planning Corp now owns 38,105 shares of the company’s stock valued at $194,000 after acquiring an additional 2,900 shares during the period. Institutional investors and hedge funds own 48.68% of the company’s stock.

Cumulus Media Company Profile

Cumulus Media Inc, an audio-first media company, owns and operates radio stations in the United States. It owns and operates stations in various markets, as well as affiliated stations through Westwood One. The company's content portfolio includes sports, news, talk, and entertainment programming from various brands, including the NFL, the NCAA, the Masters, CNN, AP News, the Academy of Country Music Awards, and other partners.